FM Mattsson Mora Group AB (publ) Stock Forecast

FM Mattsson Mora Group AB (publ) stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)

FMM-B.ST Signals & Forecast

The FM Mattsson Mora Group AB (publ) stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr54.09. On a fall, the stock will find some support from the long-term average at approximately kr51.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -3.62%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Monday, March 18, 2024 and based on theory for this formation the price should go up by 13.75% to kr60.52 within 17 trading days since signal was issued (Thursday, April 25, 2024).

Support, Risk & Stop-loss for FM Mattsson Mora Group AB (publ) stock

FM Mattsson Mora Group AB (publ) finds support from accumulated volume at kr52.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved kr0.600 between high and low, or 1.13%. For the last week the stock has had daily average volatility of 1.81%.

Our recommended stop-loss: kr50.60 (-4.89%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (FMM-B.ST) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect FM Mattsson Mora Group AB (publ) to open at kr53.40, and during the day (based on 14 day Average True Range), to move between kr51.76 and kr54.64, which gives a possible trading interval of +/-kr1.44 (+/-2.71%) up or down from last closing price. If FM Mattsson Mora Group AB (publ) takes out the full calculated possible swing range there will be an estimated 5.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr53.80 (1.13%) than the support at kr52.20 (1.88%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is FM Mattsson Mora Group AB (publ) stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.022 Buy Candidate Upgraded

Predicted Opening Price for FM Mattsson Mora Group AB (publ) of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.